Business committee chair Rachel Reeves attacks defiant Thomas Cook leadership October 15, 2019 Business select committee chair Rachel Reeves launched a stinging attack on Thomas Cook executives today in a heated evidence session into the firm’s collapse last month. After hearing evidence on how the company was allowed to fall into liquidation, putting 9,000 people out of a job and 150,000 more stranded abroad, she told chief executive [...]
Thomas Cook CEO Peter Fankhauser: I worked ‘extremely hard’ for pay October 15, 2019 Thomas Cook chief executive Peter Fankhauser defended his pay at a heated showdown with MPs today. Fankhauser said he was “deeply sorry” for the holiday operator’s collapse, but added that he “worked extremely hard” for his pay. Read more: Jet 2 owner sees bookings rise after collapse of Thomas Cook “In relation to [a] normal [...]
Former Thomas Cook executives to face grilling from MPs after collapse October 14, 2019 Thomas Cook bosses will be hauled in front of MPs tomorrow morning and forced to explain the firm’s catastrophic collapse, which left 150,000 Brits stranded abroad and forced the biggest peacetime repatriation in history by the British government. Chief executive Peter Fankhauser will answer questions from the Commons’ business select committee, in the first evidence [...]
Collapsed airlines to fly passengers home under new government proposal October 12, 2019 Under a new government proposal, aeroplanes owned by collapsed airlines could be used to repatriate passengers to the UK, instead of being grounded. The proposed legislation comes in the wake of Thomas Cook’s collapse, which required the Civil Aviation Authority to find 150 aircraft and operate almost 700 flights at a total cost of £100m. [...]
Will the buyout of Thomas Cook’s 555 high street stores take off? October 9, 2019 At 11.53pm on Tuesday night, the directors of family-owned Sunderland-based holiday firm Hays Travel clinched what is surely the biggest coup of their careers: buying Thomas Cook’s entire collection of high street stores. They appear to have timed their move well. Although owners John and Irene Hays wouldn’t tell reporters the price yesterday, they have doubtless [...]
Hays Travel to buy 555 Thomas Cook stores, providing lifeline for 2,500 former workers October 9, 2019 Thousands of former Thomas Cook employees could be in for a reprieve, after the collapsed travel giant’s retail estate has been sold to Hays Travel. The agreement will see the Sunderland-based independent travel agent pick up 555 former Thomas Cook stores around the UK. The news offers a lifeline for its 2,500 former retail employees. [...]
Thomas Crooks: Fraudsters target refund process for collapsed airline October 8, 2019 People trying to claim refunds on flights and hotels booked with collapsed holiday giant Thomas Cook have been warned about possible fraudsters trying to get hold of their details. Britain’s aviation regulator the Civil Aviation Authority (CAA) said this afternoon it had been forced to take “urgent action” against fraudulent activity in relation to the [...]
Thomas Cook customers struggle to recoup funds as regulator’s website hit by ‘unprecedented demand’ October 7, 2019 Thomas Cook customers looking for a refund are being thwarted by excessive demand this morning, as the aviation regulator struggles to cope with the amount of people trying to claim their money back. The Civil Aviation Authority this morning launched its refund process for those affected by the travel company’s collapse last month. Read more: [...]
Thomas Cook paid more than £20m to advisers in days before collapse October 5, 2019 Thomas Cook paid more than £20m to over 30 advisers in its final days as it failed to secure a rescue deal. The payout added to the cash deficit that led to the company’s collapse, with advisers working on behalf of the company, bondholders, shareholders, the pension fund and insurance schemes. They were all involved [...]
Sun, sea and skint Spaniards: Spain plans up €300m tourism rescue package after Thomas Cook collapse October 3, 2019 Spain is preparing a $300m rescue package for its tourism industry, after the collapse of Thomas Cook is said to have left bars deserted and beaches empty at its holiday hotspots. The country’s tourism minister said the cash would be split across 13 different measures, including a credit line for companies struggling to cope. Read [...]